This is not a good looking chart at all. Since the crash began about a couple of months (or more) back the green side, i.e. the buy walls have always been strong. But over the last few days the sell wall has been getting bigger and bigger. Not good signs, no sir. Not at all!
I have been buying regularly but one has to wonder when does it stop...how deep can the pockets go? Not much longer I am afraid and on a superficial look, my decision to gamble by converting all my HBD to hive seems it might backfire and I should be panicking.
Well, I am not panicking yet because my bet was one that ran the span of one whole year. So if the price of HIVE recovers to even just above 40 cents anytime by next year November - I will come out the winner. So no, I am not panicking yet. But it is surely starting to become very very frustrating, to the point that I have considered powering up all the HIVE and focus solely on account growth till the bears go to hibernate.
The other scenario is if in a year's time the price of HIVE does not recover and we are truly in for a loooong bear market, and I haven't powered up the hive either - that becomes a textbook lose-lose situation. That is the scenario I am afraid of. My disappointment will be legendary!
I don't usually mind the bear market too much but since I have been relying on swing trades and scalping hive for a while now, I have been very salty about the lack of such opportunities. And after I finally was forced to make a move, I should have taken full advantage. My gut was telling me to wait much longer before buying back but because HIVE usually pumps in pairs I ended up buying a bit too prematurely and now I am left to rue another missed opportunity!
Again, I am not too fussed about missed opportunities as it has become part and parcel of my trading career - but when times are desperate every opportunity seems like it was the one for a lifetime LOL!
Well at least I am doing one thing diligently - post every day and grow my account one step at a time. It has been a bit slower than I would have expected, but it's a little growth everyday and that's the important part. (...pffftt...typical "participating was the important part" sentiment)!